Another T206 Wagner Found ...

[ChiSoxFan]

Read the article here ... http://sports.espn.go.com/mlb/news/story?id=5732365


(Added)
Guess I should have read the article before posting the link ... card is in the current Heritage Auction

[e107collector]

I checked their website, and the Wagner card is already at $180,000.

I honestly didn't think it was going to go over $130,000, but I was wrong.

Any thoughts?

Tony

[nameless]

Nice story and for charity I would imagine.

[bbcard1]

I think the fact that there is an interesting story going along with it will boost its value...and it probably does make it worth more because it is more interesting. Like having a Buick once owned by Huey Lewis.

[Fred]

Just out of curiosity was the card slabbed? If so, can I assume it resides in an AUTH holder?

[Rob D.]

Originally Posted by Fred

Just out of curiosity was the card slabbed? If so, can I assume it resides in an AUTH holder?

From Heritage's website:

http://sports.ha.com/common/view_ite...8&Lot_No=80079

[Rob D.]

Originally Posted by bbcard1

Like having a Buick once owned by Huey Lewis.

Or Jon Voight's LeBaron.

[scooter729]

Oh, Jon Voight the periodontist?

[Matt]

Originally Posted by Rob D.

Or Jon Voight's LeBaron.

Or Jon Voight's pencil.

[Ohio_Collectibles]

I would think that since the money for the card is going to a charity, that the final bid would be somewhat tax deductable. Perhaps that is fueling the high price?

[dstudeba]

Originally Posted by Ohio_Collectibles

I would think that since the money for the card is going to a charity, that the final bid would be somewhat tax deductable. Perhaps that is fueling the high price?

I agree, any amount over the fair market value should be tax deductable. What is the fair market value? The fair market value is what it sells for in an open auction....

[Shoeless Moe]

Originally Posted by dstudeba

I agree, any amount over the fair market value should be tax deductable. What is the fair market value? The fair market value is what it sells for in an open auction....

Ooooh, it's a right off.

Do you even know what a right off is?

No, but they do, and their the ones righting it off.

[Kawika]

Right on!

[Matthew H]

The fact that a restored Wagner didn't sell for 160k and this one is already at 180k says a lot to me.

[Shoeless Moe]

Originally Posted by Matthew H

The fact that a restored Wagner didn't sell for 160k and this one is already at 180k says a lot to me.

Yah it says when it's time to sell your collection, grab yourself a few penguins and let them handle, forget Mr Mint.

I'm thinking of opening "Second to Nun Baseball Cards and Memorabilia Auctions".

[vintagecpa]

I'm far from an expert on the value of T206's, but when I saw that card up for Auction, I was thinking maybe $50k to $75k given the condition. I could understand why this card sold for such a premium back when they thought only 10-15 of them existed. But now that there is believed to be 60-80, I am amazed they sell at these levels. I wonder what the true population of the card is?

[dstudeba]

Originally Posted by Shoeless Moe

Ooooh, it's a right off.

Do you even know what a right off is?

No, but they do, and their the ones righting it off.

I am sorry is this a Seinfeld quote or something? I don't understand.

[chaddurbin]

it's the mainstream media exposure...that cincy cdv on jay leno also went big bucks?

[barrysloate]

It's a Seinfeld quote...but it's a "write off." ( I know Quan loves when I correct spelling)

[Fred]

Rob,

Thanks for posting the pic of the card.

[nameless]

*sarcasm starts*
Maybe the nuns are shill bidding???.... Did we ever think of this?!
*sarcasm ends*

[Tabe]

This is as good a place as any to ask:

We all know that the Gretzky is the highest-graded Wagner at PSA 8. What is the SECOND-highest graded? And anybody got a scan?

Tabe

[e107collector]

I'm pretty sure the Baseball Hall of Fame has one that is not graded, but would probably grade a "6" if I remember correctly.

I also think there are two raw examples that would grade a 5 or a 5.5.

Mastro auctioned off a PSA 5MC 2 years ago, that sold for over $1 million.

I think those are the highest examples in the hobby today, but I could be wrong.

Maybe someone else can chime in.

Tony

[Matthew H]

PSA graded a 5, 5(MC), and a 4. There are better examples out there that have never been graded. I have a scan of the 5(mc); I'll try to find it.

[e107collector]

I just checked Heritage's auction, the T-206 Wagner is at $262,900.

That price includes the bp.

Unbelievable.

Tony

[Rob D.]

Originally Posted by e107collector

That price includes the bp.

But not the borders.

[iggyman]

That price must reflect the amount of good karma that Heritage/nun Wagner possesses. Either that, or Charlie Sheen has really gone off the deep end.

Lovely Day..

[Matthew H]

Originally Posted by Rob D.

But not the borders.

They really should throw the borders in at this point.

[barrysloate]

Wouldn't the money paid for this card be considered a charitable deduction, since it's going to the nuns? In that case, we should expect a price realized that would exceed its retail value.

[Jim VB]

Originally Posted by barrysloate

Wouldn't the money paid for this card be considered a charitable deduction, since it's going to the nuns? In that case, we should expect a price realized that would exceed its retail value.

I don't think the IRS works that way Barry. There is only one taxable deduction for this donation and that goes to the gentleman who donated the card to the nuns.

The winning bidder just paid, in theory, fair market value for a card. He pays money. He gets a card. No deduction.

[egbeachley]

Originally Posted by Jim VB

I don't think the IRS works that way Barry. There is only one taxable deduction for this donation and that goes to the gentleman who donated the card to the nuns.

The winning bidder just paid, in theory, fair market value for a card. He pays money. He gets a card. No deduction.

There is probably no tax deduction for the donation either since there is nothing to deduct from.

I think an argument can be made that the price paid over the true fair value is a donation. A real-life example is a charity auction where a $50 face value prize is auctioned for $80 - $30 would be a deduction. But it would be hard to prove for this card and the IRS wouldn't buy it anyway.

[Jim VB]

Originally Posted by egbeachley

There is probably no tax deduction for the donation either since there is nothing to deduct from.

I don't really have any idea what the original owner's tax situation is. But, if he has earned income, capital gains, or an inheritance, I assume the value of the card could be used as a deduction.

But, as always, I will defer to the experts.




Edit to add: Just re-read the original article and I believe you are correct.

[barrysloate]

Thanks guys for the clarification. Then in that case, the buyer way way overpaid.